More sops to revive tourism

Thiruvananthapuram: Finance minister K N Balagopal said that a loan amounting to Rs 400 crore would be procured from KFC for mobilizing working capital in the tourism sector which is struggling to revive after the debilitating impact of Covid-19.
In addition to the existing provision of Rs 100 crore, the revised budget earmarked Rs 50 crore to tourism department for marketing. Loan amounting to Rs 400 crore will be made available through KFC for mobilizing more working capital in the tourism sector. Amphibian vehicles, that move both in water and on land, will be launched. It will be started in Kollam, Kochi, Thalassery regions in the first phase. This project will be implemented at a cost of Rs 5 crore.
The minister said that the spread of Covid was a setback to the tourism sector. “Tourism is a crucial sector in the GSDP of the state. This sector provides employment to 5 lakh people directly and 20 lakh people indirectly. In the first phase of Covid spread, the international tourism sector saw a decline of about 80%. This has reflected in the Kerala economy also. Covid’s second transmission and subsequent restrictions have wiped out the livelihoods of those in the tourism sector,” he said. The government is focusing on reviewing the post-Covid tourism potential and formulating long-term plans to ensure rapid growth in the sector, the minister said.